Sandvik has reported an order decline in its interim Q2 2019 report.
Order intake was SEK 26,031 million, compared to SEK 27,201 million in 2018, while revenues were SEK 26,467 million, up from SEK26,136 million.
The company’s Machining Solutions segment reported operating pro?t of SEK 2,483 million, down from SEK2,782 million, while Materials Technology’s adjusted operating pro?t increased by 9% to SEK 585 million from SEK 537 million.
‘In total, order intake declined by -5%,’ said Björn Rosengren, president and CEO. ‘Revenues remained steady, supported by previously received orders with longer delivery schedules. Adjusted operating pro?t declined by -2%, adversely impacted by the negative earnings development in Sandvik Machining Solutions. The adjusted operating margin declined to 18.8% (19.4). I am not entirely satis?ed with this level. After a long period of high focus on managing strong growth, we now further emphasise a focus on e?ciency measures. We will take further action in all business areas to deliver strong margins long-term.’
This story uses material from Sandvik, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.